Excerpt from: Forex News
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| May 26, 2009 | | U.S. dollar gains as safe haven sought in currency trading | North Korea announced that it had detonated another nuclear bomb yesterday, on Memorial Day, insisting that it is preparing its defenses. The North Korean state-run news agency reported that this test is on a level of higher technology and explosive power than the test it first conducted in October of 2006.
The news that North Korea has exploded a nuclear weapon is receiving a great deal of condemnation around the world, and it is sending the U.S. dollar a little higher in currency trading on the FX market. With this new test comes uncertainty, and concern over the state of global politics and financial markets.
The U.S. dollar is still seen as a safe haven currency on the FX market, and as such, it is preferred when turmoil begins to affect the world and current events.
| Topic Tags: currency, currency trading, financial markets, FX market, North Korea, nuclear bomb, U.S. dollar | |
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